(1) A conservation agreement has effect from a day, or on the happening of an event, specified in the agreement.

(2) A conservation agreement may be varied by a subsequent agreement between the Biodiversity Conservation Trust and all the owners of the land at the time of the variation. The area to which the conservation agreement applies may be increased or reduced by any such variation of the agreement.

(3) A conservation agreement has effect in perpetuity or for the period set out in the agreement unless it is terminated—

(a) by a subsequent agreement between the Biodiversity Conservation Trust and all the owners of the land at the time of the termination, or

(b) in any such other manner or in such circumstances as may be set out in the agreement.

(4) A conservation agreement may be varied or terminated by the Biodiversity Conservation Trust, by notification in the public register of private land conservation agreements under Part 9, without the consent of the owners of the land, if the Trust is of the opinion that the land is no longer needed for, or is no longer capable of being used to achieve, any purpose for which the agreement was entered into.

(5) The Biodiversity Conservation Trust is not to vary or terminate a conservation agreement under subsection (4) without the consent of the owners of the land unless—

(a) written notice of the Trust’s intention to vary or terminate the agreement has been given to the owners of the land stating that the owners may make submissions to the Trust within the period specified in the notice (being a period of not less than 28 days), and

(b) the Trust has considered any submissions made by the owners of the land within that specified period.

(6) If a conservation agreement is varied by the Biodiversity Conservation Trust under subsection (4) without the consent of the owners of the land at the time of the variation, the owners may, by written notice given to the Trust, terminate the agreement.

(7) The Minister may direct the Biodiversity Conservation Trust to vary or terminate a conservation agreement if a mining or petroleum authority is or has been granted in respect of the land and the Minister is of the opinion that the activity authorised by the mining or petroleum authority—

(a) will adversely affect any management actions that are required or authorised to be carried out on the land under the agreement, or

(b) will adversely affect biodiversity protected by the agreement.

The Trust is required to comply with the Minister’s direction.

(8) Before giving any such direction, the Minister is to give the owners of the relevant land and the Biodiversity Conservation Trust an opportunity to make submissions on the proposed direction and is to take any submission made into account.

(9) The owner of land subject to a conservation agreement is not entitled to any compensation from the Minister or the Biodiversity Conservation Trust as a result of any variation or termination of the agreement by the Biodiversity Conservation Trust without the consent of the owner.

(10) The regulations may make provision for or with respect to the reimbursement of the owner of the land or the Biodiversity Conservation Trust by the holder of the mining or petroleum authority for the costs incurred by the owner or Trust in establishing the agreement (including the making of payments to the Minister for the purposes of any such reimbursement). The regulations may also make provision for the reimbursement of the Trust by the owner of the land for money paid to the owner under the agreement.

(11) Subsection (9) does not affect any right to compensation the owner may have under the Mining Act 1992, the Petroleum (Onshore) Act 1991 or any other legislation in respect of the grant of the mining or petroleum authority or to activities carried out under the authority.

(12) The regulations may authorise the Biodiversity Conservation Trust and the owners of the land concerned to make minor variations to a conservation agreement without any consent or consultation required by this section.